Acquisition of avantum consult AG Closed as Scheduled / All for One Steeb AG
Filderstadt, 13 May 2014 – All for One Steeb AG has closed the share purchase agreement as scheduled to acquire all the shareholdings in avantum consult AG, Duesseldorf. All for One Steeb reported about the intended acquisition in an ad hoc announcement released on 28 March 2014. The shares were transferred with effect from 1 May 2014. The German Federal Cartel Office has approved the transaction.
Operating primarily in Germany and Switzerland, avantum consult AG is one of the most respected technology-independent consultancies in the market for performance management and business analytics. Its range of services extends from designing the operational concept and strategy all the way to implementing management systems to improve business performance. The company currently employs about 70 people, and is clearly profitable after having generated total revenues of approximately EUR 10 million in the financial year 2013. The consultancy serves larger midmarket companies and major corporations.
As the Number 1 in the German-speaking SAP midmarket segment, All for One Steeb wants to use this transaction to also take a top spot in the growing overall market for business analytics and performance management. Even without avantum, All for One Steeb ranked among the top 20 in Germany in the Projects and Consulting category of the Big Data Vendor Benchmark 2013 prepared by the Experton Group AG, Ismaning.